HS2 Line “will cost taxpayers £80bn”

The study by the Institute of Economic Affairs published today says the cost of HS2, which would link London to Birmingham and the North has been vastly underestimated.

It argues that the £80billion price tag could deliver £320billion of value if spent on other rail transport projects instead.

The report suggests that the Government’s £42.6billion estimate would rise because of a variety of factors, including changes to routes and extra tunnelling; new stations and transport infrastructure; grants for new shops and amenities around the route; and compensation for towns and cities bypassed by the new line.